The law explains why certain parts of it are important. These parts allow the loan manager and the Commissioner to share information about student loans. This sharing helps them do several things:

They can make sure that the person asking for a student loan is who they say they are. This stops people from pretending to be someone else to get a loan.

The Commissioner can tell borrowers how much they owe in total on their loan. This helps borrowers know exactly how much money they need to pay back.

The loan manager can give information about loan advances to the Commissioner. This means the Commissioner can take over managing these loans.

Finally, it helps them collect the total amount that borrowers owe. This makes sure that people pay back their student loans.

All of this information sharing helps to manage student loans better and make sure the right people are getting loans and paying them back.